The NHL's Highest-Paid Players 2017-18

Kurt Badenhausen
,
Forbes Staff
I cover sports business with rare dips into b-schools, local economies

The Edmonton Oilers signed center Connor McDavid to an eight-year, $100 million contract extension in July. The agreement shattered the NHL's previous record for average annual salary of $10.5 million held by Chicago Blackhawks teammates Jonathan Toews and Patrick Kane. The 20-year-old McDavid won hockey's Hart Trophy as NHL MVP last season and is already one of the sports biggest stars on and off the ice with lucrative endorsement deals with CCM, Adidas, Canadian Tire and Rogers Communications.

But McDavid won't join the NHL's top earners until next year when his new Oilers' contract commences. His base salary this season is only $832,500 with a chance to earn another $2.85 million in incentive bonuses. The highest-paid player in the NHL for the second straight year is Toews with total earnings of $16 million, including his $13.8 million salary and $2.2 million from endorsements.

(Photo by Len Redkoles/NHLI via Getty Images)

Toews became a legend in the Windy City in 2010 when he led Chicago to the Stanley Cup, breaking a nearly half-century title drought for the Blackhawks. He won the Conn Smythe as playoff MVP and followed it up as captain to two more Stanley Cup winners in 2013 and 2015. Revitalizing one of the NHL's Original Six franchises has made Toews one of the league's most marketable players. His endorsement partners include Bauer, Canadien Tire, Chevrolet, Frameworth Hallmark and Upper Deck. Only Sidney Crosby and Alexander Ovechkin earn more off the ice by FORBES' count.

Crosby was the NHL's highest-paid player, including marketing income and salary, for eight straight years until last year when Toews took the crown. Crosby remains the NHL's most marketable player with off-ice income of nearly $5 million annually, but his salary is just seventh highest in the NHL this year at $10.9 million. His jersey was the NHL's top seller last season and he led the Penguins to their second straight Stanley Cup title.

Kane ranks third with earnings of $14.8, including $1 million off the ice. Ovechkin is fourth at $14.5 million with his endorsement income behind only Crosby at $4.5 million. Ovi renewed endorsement deals this year with Nike, Beats, Fanatics and Papa John's. He has also worked with Coca-Cola since 2012. After six years with Bauer, Ovechkin returned this season to CCM where he started his career for his equipment sponsor. The multi-year deal will showcase Ovechkin in North America and Russia.

NHL franchise values are soaring with the average team now worth $594 million, but all players are being forced to take a haircut on their salaries with revenue growth not keeping pace with rising player costs. The NHL's collective bargaining agreement with the players calls for only 50% of "hockey-related-revenue" allocated to salaries. The result is an escrow system where 15.5% of every players' salary is held in an account during the season until the league tallies its revenue for the year. Almost all of that money has been returned to owners the last few years with the slowing pace of revenue growth.

Below are the NHL's top 10 earning players for this season. Their total earnings of $133 million are basically flat from a year ago. The endorsement earnings' estimates include income from sponsors, appearances, licensing and memorabilia. We do not deduct for income taxes or the escrow plan.

The NHL's Highest-Paid Players

1. Jonathan Toews

Total Earnings: $16 million

Salary: $13.8 million

Endorsements: $2.2 million

Toews and Kane signed matching eight-year, $84 million contracts in July 2014. The deals included the NHL's highest annual salary each of the past three seasons before dropping to $12 million next season.

Kane had the NHL's second best-selling jersey last season. He became the first American-born player to lead the league in scoring and win the Hart Trophy during the 2015-16 season.

4. Alexander Ovechkin

(Photo by Tony Quinn/Icon Sportswire via Getty Images)

Total Earnings: $14.5 million

Salary: $10 million

Endorsements: $4.5 million

Papa John's is using the three-time MVP in its' marketing in Russia where it has more than 100 franchises. A recent promotion had Ovechkin's image on one million pizza boxes.

5. (tie) Anze Kopitar

Total Earnings: $13.1 million

Salary: $13 million

Endorsements: $100,000

Kopitar is in the second year of the eight-year, $80 million contract he signed in January 2016 after the center led the Los Angeles Kings to two Stanley Cup titles in three years.

5. (tie) Jamie Benn

Total Earnings: $13.1 million

Salary: $13 million

Endorsements: $100,000

The Dallas Stars locked up their captain last summer with a deal worth $76 million over eight years. Benn led the NHL in scoring during the 2014-15 season.

7. P.K. Subban

(Photo by Keith Gillett/Icon Sportswire via Getty Images)

Total Earnings: $12.5 million

Salary: $11 million

Endorsements: $1.5 million

The Montreal Canadiens traded Subban to the Nashville Predators last year, but he is still a sought after endorser despite the move to the smaller market. Sponsors include Samsung, Gatorade, Listerine and Bridgestone.

8. Shea Weber

Total Earnings: $12.1 million

Salary: $12 million

Endorsements: $100,000

Weber, 32, still has eight more seasons after this on the massive 14-year, $110 million contract he signed with the Predators in 2012 before being traded to Montreal last year for Subban.

9. Steven Stamkos

(Photo by Fred Kfoury III/Icon Sportswire via Getty Images)

Total Earnings: $11 million

Salary: $9.5 million

Endorsements: $1.5 million

Stamkos left money on the table to as a free agent in 2016 to return to Tampa under an eight-year deal worth $68 million. The Maple Leafs reportedly wanted the four-time All-Star and his marketing profile would have soared even higher with a move north.

10. Corey Perry

Total Earnings: $10.2 million

Salary: $10 million

Endorsements: $150,000

Perry's eight-year, $69 million contract with the Anaheim Ducks calls for his total salary and bonus to decline $1 million annually each of the next three years through the end of the deal after the 2020-21 season.